The company Forex TB Limited operates under a trading name PatronFX. It is regulated by Cyprus Securities and Exchange Commission (CySEC) and has developed its own web-based platform.
The platform looks simple and tidy. There are three main sections in the workspace. The assets available for trading are in the left section. Each line shows the bid and the ask prices, daily changes, and the highest and lowest values for the day. There is a filter box and you can choose which asset group to be displayed.
The next section consists of the trading window and the chart window. The chart of the selected instrument is shown on the right. The trade window shows buy and sell buttons with real time prices. You must enter the amount and click on the button to buy or sell the asset. Before opening the position, you can define the associated stop loss and take profit orders. Then you must click on the Trade button and the position is placed. It appears in the third section under the tab Open Trades. This section contains all the properties of the open position and you can modify or close it here.
The entry stop and limit order are placed when you select the ‘Open trade when rate reach’ option. When you are ready with the amount and price, clicking the Trade button activates the entry order. It appears in the third section under the tab Orders and you can modify or cancel it here.
We tested the platform during the important financial news and the spread for the EUR/USD pair widened to near 4 pips and 30 minutes after the news the spread was still the same.
Charts can be maximized and occupy the entire workspace. Chart types include candlesticks, HeikinAshi, bars, lines, area, and dots. Time frame starts from one minute to one month. Zooming can be done by the dedicated buttons or by the mouse scroll wheel. Graphical objects are under the Tools menu and include different types of lines, geometric shapes, text, and Fibonacci retracement. Nearly 50 technical indicators are available from the ‘show more’ menu and can be configured via the indicator wizard. They are arranged in groups and you can add the most used to a favorite group. The General properties button allows all colors to be customized.
The economic calendar and the daily market update are available directly through the corresponding menus.
In general, the platform is simple and intuitive. It provides all the necessary features for basic trading and is suitable for beginners. More experienced traders would prefer the MetaTrader terminal, which the company also offers.
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